Day: March 18, 2024

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Compliance Week Conference Podcast

Compliance Week 2024 Speaker Preview Podcasts – Elizabeth Simon on More Holistic Risk Assessments

In this episode of the Compliance Week 2024 Speaker Preview Podcasts series, Elizabeth Simon discusses her panel presentation at Compliance Week 2024, “Innovative Approaches to Enterprise Risk Assessments.” Some of the issues she and her colleagues will discuss in this podcast and her presentation are:

  • How compliance can help the entire business mitigate risk
  • How to take a holistic approach to enterprise risk management
  • Seeing old friends, making new ones, and learning about new best practices at Compliance Week 2024

I hope you can join me at Compliance Week 2024. This year’s event will be held April 2-4 at the Westin Washington, DC, Downtown. The line-up is first-rate, with some top ethics and compliance practitioners around.

Gain insights and make connections at the industry’s premier cross-industry national compliance event, offering knowledge-packed, accredited sessions and take-home advice from the most influential leaders in the compliance community. Back for its 19th year, join 500+ compliance, ethics, legal, and audit professionals who gather to benchmark best practices and gain the latest tactics and strategies to enhance their compliance programs. Compliance, ethics, legal, and audit professionals will gather safely face-to-face to benchmark best practices and gain the latest tactics and strategies to enhance their compliance programs, among many others, to:

  • Network with your peers, including C-suite executives, legal professionals, HR leaders, and ethics and compliance visionaries.
  • Hear from 80+ respected cross-industry practitioners, including CEOs, CCOs, regulators, federal officials, and practitioners, to help inform and shape the strategic direction of your enterprise risk management program.
  • Hear directly from panels on leadership, fraud detection, confronting regulatory change, abiding by cross-border rules and regulations, and the always-favorite fireside chats.
  • Bring actionable takeaways from various session types, including cyber, AI, Compliance, Board obligations, data-driven compliance, and many others, to your program for you to listen, learn, and share.
  • Compliance Week aims to arm you with information, strategy, and tactics to transform your organization and career by connecting ethics to business performance through process augmentation and data visualization.

I hope you can join me at the event. For information on the event, click here. As an extra benefit to listeners of this podcast, Compliance Week is offering a $200 discount on the registration price. Enter the discount code TFOX2024 for $200 off.

The Compliance Podcast Network produces the Compliance Week 2024 Preview Podcast series. Compliance Week sponsors this series.

Categories
Corruption, Crime and Compliance

The Coming Sanctions Enforcement Storm

Whatever the cause, criminal sanctions enforcement will be an interesting area in 2024. The DOJ’s planned aggressive push against companies and individuals for sanctions violations is about to be unleashed. There is no question that DOJ’s enforcement initiative is coming—it is just a question of when.

We have already seen several examples of what aggressive sanctions enforcement will look like. As the new “FCPA,” we can expect several standard elements:

  • Large Penalties: hundreds of millions, even reaching billions in more egregious cases.
  • Reward for Voluntary Disclosures
  • Criminal Indictments, Deferred or Non-Prosecution Agreements
  • Independent Compliance Monitors
  • Parallel Regulatory Resolutions with OFAC, BIS, and or DDTC
  • Enhanced Compliance Remediation Requirements
  • Individual Criminal Enforcement

In this episode, Michael Volkov reviews the soon-to-arrive sanctions enforcement regime, and steps companies should take to protect against enforcement actions. Hear him discuss:

  • The Department of Justice (DOJ) is signaling a shift towards aggressive corporate sanctions and export control enforcement, particularly focusing on national security issues like sanctions and export controls. 
  • Recent cases, such as the British-American Tobacco and SAP cases, serve as examples of how the DOJ’s sanctions-focused enforcement strategy is likely to unfold, including potential penalties and consequences that companies may face.
  • Companies are facing risks from various sources in the realm of sanctions and export control enforcement, including regulatory referrals from agencies like OFAC, BIS, and DDTC, as well as international intelligence relationships and whistleblowers.
  • Seagate’s blatant violation of Huawei export controls could be a significant indicator of the DOJ’s enforcement initiative in the sanctions arena. This case demonstrates the potential consequences of willful violations and the importance of compliance with export control regulations.
  • Common deficiencies in sanctions compliance programs, including corporate boards’ lack of understanding, failure to address third-party risks, inadequate supply chain audits, weak internal controls, and insufficient training, highlight areas where companies need to improve to ensure compliance with sanctions regulations.

Resources:

Michael Volkov on LinkedIn | Twitter

The Volkov Law Group

Categories
The Hill Country Podcast

The Hill Country Podcast: The Red Cross in The Hill Country, Preparing for Disasters and Being There in an Emergency

Welcome to the award-winning The Hill Country Podcast. The Texas Hill Country is one of the most beautiful places on earth.

In this podcast, Hill Country resident Tom Fox visits with the people and organizations that make this the most unique area of Texas. This week, Tom visits with Debbie Zabica, Executive Director of the American Red Cross, Hill Country chapter.

Debbie Zabica is the accomplished Executive Director of the Hill Country chapter of the American Red Cross, possessing an extensive background in nonprofit work and disaster preparedness initiatives. Zabica’s perspective on American Red Cross disaster preparedness is strongly influenced by her dedication to educating and preparing communities, especially within the Hill Country region, for potential disasters such as home fires.

Her emphasis lies in ensuring individuals are equipped with essential supplies and knowledge to handle emergencies, be it during winter storms or extreme heat in the summer. She underscores the Red Cross’s critical role in providing immediate assistance and support to communities post-disaster, which includes setting up shelters and offering health services. Drawing from her experiences leading a team of volunteers across 19 counties, Zabica’s perspective highlights the importance of being proactive in disaster readiness and the Red Cross’s commitment to aid and support individuals in times of crisis.

Debbie also discusses the chapter fundraiser, Corks for Compassion, which will be held on Thursday, March 21st, at 6:00 p.m. at Richter Tavern, 153 South Main Street, Boerne, TX 78006.

Key Highlights:

  • Red Cross Home Fire Safety Initiatives
  • Community Support and Health Services Post-Disasters
  • Emergency Support and Preparedness Initiatives by Red Cross

 Resources:

Red Cross in the Hill Country

Corks for Compassion fundraiser

Other Hill Country Focused Podcasts

Hill Country Authors Podcast

Hill Country Artists Podcast

Texas Hill Country Podcast Network

Categories
FCPA Compliance Report

FCPA Compliance Report – Jonathan Wilson on The NSBU Decision

Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance.

In this edition of the FCPA Compliance Report, Tom welcomes back Jonathan Wilson, one of the country’s top experts on the Corporate Transparency Act. We dissect the court decision in the case of the National Small Business Union, which invalidated the CTA and what it might mean for the law going forward.

Jonathan Wilson is a well-respected figure in corporate transparency and has established an impressive body of work around the Corporate Transparency Act. He is the founder of FinCEN Report, a company that helps businesses and others comply with the CTA.

Wilson’s perspective on the Act hinges on his understanding of its legal implications and practical considerations, warning companies that, despite a recent district court decision, they are still required to meet filing obligations. We take a deep dive into the court opinion, how it applied (or misapplied) US law and explain the need for continued compliance with the law.

Even with this court decision, Wilson’s advice is clear, companies must continue with compliance efforts and fulfill their reporting requirements, as delays will not alter the facts or obligations of the Act. The invalidation of the CTA is only applicable to the named plaintiff in the Northern District of Alabama so all others must continue to comply with the law.

Key Highlights:

  • CTA Overturned—Is Interstate Commerce Affected?
  • What is the US National Security Interest?
  • Beneficial Owner Disclosure in Money Laundering
  • Senate Ratification of International Treaties
  • Navigating Legal Compliance in Competitive Business Environment

 

Resources:

Jonathan Wilson on LinkedIn

FinCEN Report

National Small Business Union decision

Tom Fox

Instagram

Facebook

YouTube

Twitter

LinkedIn

 

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Compliance Tip of the Day

Compliance Tip of the Day: Internal Reporting Outside The US, Part 1

Welcome to “Compliance Tip of the Day,” the podcast where we bring you daily insights and practical advice on navigating the ever-evolving landscape of compliance and regulatory requirements.

Whether you’re a seasoned compliance professional or just starting your journey, our aim is to provide you with bite-sized, actionable tips to help you stay on top of your compliance game.

Join us as we explore the latest industry trends, share best practices, and demystify complex compliance issues to keep your organization on the right side of the law. Tune in daily for your dose of compliance wisdom, and let’s make compliance a little less daunting, one tip at a time.

In this episode, I will be having a two-part discussion of steps a company needs to consider for internal reporting in jurisdictions outside the US.

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.

Categories
Daily Compliance News

Daily Compliance News: March 18, 2024 – The Mike Lynch Goes on Trial Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News.

All from the Compliance Podcast Network. Each day, we consider four stories from the business world: compliance, ethics, risk management, leadership, or general interest for the compliance professional.

In today’s edition of Daily Compliance News:

  • Mike Lynch finally goes on trial. (FT)
  • What does the CTA ruling mean for the registry? (WSJ)
  • More corrupt Kushner deals? (Newsweek)
  • What’s next for Altice? (Bloomberg)

For more information on the Ethico ROI Calculator and a free White Paper on the ROI of Compliance, click here.